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BD Speeches

"To catch up with rapid technological change, the Commission is modernizing its recordkeeping rules"
"The proposal would put forward changes in two areas: the scope of what is cleared, and a set of reforms related to customer clearing"
"required FINRA membership for many of these currently-exempt firms would help enhance robust and consistent oversight"
"the proposal seems incompatible with a world in which multiple national securities associations operate. Rather, the proposal seems more likely to entrench FINRA further as ...
The proposal "would help ensure the SEC has oversight over PTFs [principal trading firms] and others engaged important liquidity-providing roles, such as market making"
SEC Commissioner Hester Peirce
"Today’s proposal seeks to bring some clarity to how this definition applies in markets where some of the key providers of liquidity are not registered ...
"Broker-dealers cannot use static records for their own operational and compliance purposes, so many firms have two systems.  Requiring broker-dealers to maintain a wholly separate, ...
"Compliance personnel should closely evaluate account opening procedures, to consider whether practices for selecting default account options or presenting or otherwise highlighting a subset of ...
Sideletter
"We have been very fortunate that for the most part, when broker-dealers have been forced to shut down and unwind operations, customer accounts have been ...
Nothing in the adopting release suggests that the Commission considered the application of these rules to the fixed-income markets
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